Contents under RCBAP must be in the covered residential condominium building and be owned by the unit owners in common or owned by the association solely and used for the business of the association. Elevation certificates are welcome but not required. For RCBAP, there is no coverage if the building has a basement. RCBAP is currently not offered in V zones. In V zones, there is no minimum and the maximum is 12,500 square feet. UNDERWRITING: There is no minimum and maximum square footage in X and A zones. Additionally, unlike an NFIP policy, Neptune covers tenant improvement and betterments with no sublimit.Ĭoverage A ranges from $50,000 to $2 million and Coverage B ranges from $50,000 to $500,000, all of which are available in single-dollar increments. “Neptune brings its instantaneous quote and bind process from residential flood to the commercial marketplace, saving agents and consumers time and money."ĬOVERAGE DETAILS: Building coverage up to $2 million and contents coverage up to $500,000 with an option to add $25,000 in business interruption insurance that provides $500 a day for up to 50 days after a 14-day wait period. “It takes hours or even days to quote a commercial flood insurance policy," Burgess continues. “With nearly 50,000 residential flood insurance policies all across the United States, we listened to our agents and expanded coverage to commercial lines," says Trevor Burgess, president & CEO, Neptune. Neptune, which has previously offered flood insurance for family homes and Main Street businesses, has added a Residential Condominium Building Association Policy (RCBAP), along with policies for apartment buildings, co-ops, hotels, motels and inns. Retail - Sporting Goods / Hobby / Music / General / Misc.PRODUCT: Neptune Commercial Flood Insurance and Neptune RCBAP Flood InsuranceĪVAILABILITY: Available to agents and brokers appointed with Neptune.įOCUS: Neptune Flood, an artificial-intelligence-driven flood insurance company that provides fast, easy and better flood insurance, announced the expansion of its flood insurance products to now include all NFIP product types.Professional, Scientific, and Technical Services.Other Services (except Public Administration).Mining, Quarrying, and Oil and Gas Extraction.Manufacturing - Wood / Paper / Paper / Mining / Plastics. ![]()
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